The global functional food market size was estimated to be US$ 175 billion in 2020 and is expected to reach US$ 391 billion by 2031 at a CAGR of 7.7%.
A functional food alludes to a kind of food that is studied to have an extra capacity, which is regularly identified with wellbeing advancement or infection counteraction. Functional foods might be designed to have physiological advantages as well as diminished the danger of constant infection past fundamental dietary capacities. These foods might seem to be comparable in appearance to customary food and devoured as a component of a normal eating routine.
Functional food offers explicit medical advantages that are past the standard daily consumption of supplements, for example, enhanced mental energy, immunity system reinforcing, worked on bone associated health, cholesterol control, further bettered heart health, along with discrete advantages related with vision. Using ingredients, like natural food/drink pigments, low-calorie natural sugars, and low-calorie ingredients, is smart.
Producers are accepting advancement to acquire cost-administration and fixed providers in the early improvement stage. One of the significant benefits of functional food is that customers are promptly paying a premium price for its different functional benefits. In 2020, Danone declared the dispatch of another Oikos Pro line that incorporates single-serve dairy cups and beverages with up to 25g of protein. The item in the new line guarantees to be an acceptable source of calcium and contain no fake flavors or additives.
Also, in 2021, Kellogg Organization dispatched another grain / cereal item and changed an exemplary youth treat into oat with new Kellogg's Little Debbie Cosmic Brownie Cereal. An enormous number of advantages are related with the utilization of fiber, including internal wellbeing support, bringing down cholesterol levels, and controlling glucose levels, among others.
These benefits, combined with the developing functional food industry, are relied upon to assume a vital part in the development of the dietary fiber segment. Dietary fiber discovered principally in natural products, vegetables, whole grains, and vegetables is presumably most popular for its capacity to forbid or alleviate blockages. Despite the fact that foods containing fiber can give other medical advantages also, like, upkeep of healthy weight and bringing down the danger of diabetes and coronary illness. The prebiotics and probiotics segment is relied upon to observe the quickest development during the forecast time frame of 2022-2032.
People are more worried about wellbeing and willing to pay extra for food that is explicitly useful for maintaining good health. Subsequently, this inclination and mindfulness among individuals help the functional food market to evolve. The booming demand for supplement advanced foods, because of the fast-paced ways of life of individuals and the rising attention to the medical advantages of these foods among them, is anticipated to drive market development in coming years. This has driven the shopper interest in diet and health food items, which is thriving the need for functional foods worldwide.
In addition, customers are fixated on foods containing useful ingredients to decrease the danger of certain medical issue, like stoutness, weight loss, diabetes, and cardiovascular disorders. The rapid, fast-paced ways of life and expanding pressure have added to the thriving predominance of such health problems.
Developing urbanization, expanding spending on wellbeing items and heedfulness regarding the therapeutic advantages of the functional food are relied upon to drive the functional food market development in Asia-Pacific during the 2022-2032 forecast time frame.
Global Functional Food Market Value Share Analysis, by Geography (2021)
The report titled “Global Functional Food Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032”, wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the Global Functional Food Market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global Functional Food market is segmented as Ingredients, Product, Application, and region. Based on Ingredient, the Functional Food market is segmented into Carotenoids, Dietary Fibers, Fatty Acids, Minerals, Prebiotics & Probiotics, Vitamins, others. Based on Product, the Functional Food market is segmented into Bakery & Cereals, Dairy Products, Meat, Fish & Eggs Soy Products, Fats & Oils, others. Based on Application, the Functional Food market is segmented into Sports Nutrition, Weight Management, Immunity, Digestive Health, Clinical Nutrition, Cardio Health, others.
Based on geography, the Global Functional Food Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Italy, France, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Australia, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, UAE, South Africa and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on Global Functional Food Market. Further, market share of prominent companies in the Global Functional Food Market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the Functional Food companies. The Global Functional Food Market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the Functional Food business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the Global Functional Food Market.
The key players of the Global Functional Food Market are BASF SE, Cargill Inc., Coca-Cola Co., Standard Functional Foods Group, Inc., General Mills, Inc., GFR Pharma, and others.
Global Functional Food Market Key Segments:
Based on Ingredient
Based on Product
Based on Application
By Region
The global functional food market size is estimated to reach USD 391 Billion by 2031.
The functional food market is estimated to exhibit a CAGR of 7.7% through 2031.
BASF SE, Cargill Inc., Coca-Cola Co., Standard Functional Foods Group, Inc., General Mills, Inc., GFR Pharma are few prominent players active in the market.
The major applications of Functional Food include Sports Nutrition, Weight Management, Immunity, Digestive Health, Clinical Nutrition and Cardio Health.
Functional food offers explicit medical advantages that are past the standard daily consumption of supplements, for example, enhanced mental energy, immunity system reinforcing, worked on bone associated health, cholesterol control, further bettered heart health, along with discrete advantages related with vision. Using ingredients, like natural food/drink pigments, low-calorie natural sugars, and low-calorie ingredients, is smart.
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